Meet Steve Bliss
Good evening San Diego, I’m Jill Roberts reporting for Channel 7 News. Tonight, we’re talking about estate planning with renowned San Diego Probate Attorney Steve Bliss of San Diego Probate Law.
Understanding Estate Planning Tools: The Irrevocable Trust
Steve, thanks for joining us tonight. For our viewers who may be unfamiliar, could you explain the concept of an irrevocable trust and its benefits?
An irrevocable trust is a powerful tool in estate planning, Steve explains. Unlike a revocable living trust which can be modified during your lifetime, an irrevocable trust, once established, cannot be easily changed or dissolved. This permanence offers significant advantages, particularly for asset protection and tax planning.
“Let me illustrate,” says Steve, leaning forward. “Imagine someone concerned about potential lawsuits or creditors. By transferring assets into an irrevocable trust, they can shield those assets from being seized. The assets legally belong to the trust, not the individual, making them less vulnerable.”
He continues, “Moreover, irrevocable trusts can be structured to minimize estate taxes. This is especially crucial for individuals with substantial estates. By strategically transferring assets into the trust during their lifetime, they can potentially reduce the tax burden on their heirs.”
Nevertheless, Steve cautions that creating an irrevocable trust is a serious decision with long-term consequences. “It’s essential to work with an experienced attorney who can carefully analyze your individual circumstances and craft a trust tailored to your specific needs,” he emphasizes.
Real-World Experience
Have you ever encountered any challenges or unique situations when advising clients on irrevocable trusts?
“Absolutely,” Steve reflects. He recounts a story about a client, a successful entrepreneur, who was facing a potentially costly lawsuit. The client had worked diligently to build his business but was concerned about protecting his assets. “We carefully crafted an irrevocable trust that shielded his personal assets while still allowing him to maintain control over his business interests,” Steve explains.
“The outcome was incredibly gratifying. Not only did the trust protect his assets during the lawsuit, but it also provided peace of mind knowing that his family’s future was secure.”
Trust in Expertise
Studies by the American College of Trust and Estate Counsel show that approximately 70% of Americans do not have a will or trust in place. This alarming statistic underscores the critical need for proper estate planning.
“Planning for the future can seem daunting,” Steve acknowledges, “but it doesn’t have to be overwhelming. Our team at San Diego Probate Law is dedicated to guiding our clients through every step of the process, ensuring their wishes are honored and their loved ones are protected.”
Testimonials
“Steve Bliss and his team were incredibly knowledgeable and supportive throughout the entire probate process. They made a difficult time much easier to navigate.” – John S., San Diego
“I highly recommend San Diego Probate Law. Steve is a true expert in his field and provided me with personalized advice that met my unique needs.” – Maria L., Carlsbad
Take Control of Your Future
Let San Diego Probate Law be your trusted guide in protecting your legacy. Schedule a consultation today to explore how we can help you achieve peace of mind for yourself and your loved ones.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “Should I put my retirement accounts in a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
- Special Needs Trust Attorney
- Spendthrift Trust Attorney
- Tax By-Pass Trust Attorney
- Totten Trust Attorney
- Constructive Trust Attorney
- Charitable Trust Attorney
- Asset Protection Trust Attorney
- Irrevocable Trust Attorney
- Revocable Trusts Attorney
- Living Trust Attorney